Electricity prices on Island could increase by 39%, says MUA Chair

Could Electricity prices on Island soar by up to 39%?

Manx Utilities Chair Rob Callister was quizzed about electricity prices in the House of Keys this morning - specifically by what percentage electricity tariffs will increase this year and in future years.

In response, he revealed the Island could see a rise between 5 per cent and 39 per cent.

Mr Callister stated in Tynwald earlier this month customers should expect a hike in prices following the current crisis around wholesale prices. 

He added the 'volatile market' amid the Russian invasion of Ukraine could create further pressure for the energy market.